A bipartisan bill to stabilize Obamacare will reduce the federal deficit, according to the Congressional Budget Office (CBO) on Wednesday.
According to the CBO, the bipartisan bill will cut the federal deficit by 3.8 billion over the next decade. The legislation will not have a significant impact on the number of people with health insurance.
The CBO together with the Joint Committee on Taxation (JCT) analyzed the impact of the Bipartisan Health Care Stabilization Act of 2017.
Additionally, the CBO and JCT reported that enacting the bipartisan legislation will “not increase net direct spending or on-budget deficits in any of the four consecutive periods beginning in 2028.”
Senate Health Committee Chairman Lamar Alexander (R-Tenn.) and Ranking Member Patty Murray (D-Wash.) introduced the bipartisan bill. Twenty-four senators co-sponsored the legislation, which will extend the cost-sharing reduction (CSR) payments to health insurers until 2019.
Additionally, the bipartisan bill will protect consumers from paying higher premiums this year. States will also have significant flexibility to create greater choices among health insurance policies.
